News

Sales of Olainfarm in Six Months Increase by 11%

on July 17, 2017

Preliminary consolidated results of JSC Olainfarm for June 2017 show that company’s sales have reached 10.11 million euros, which represents an increase by 8% compared to the same period of 2016. The biggest sales increase has been achieved in Turkmenistan, where sales grew by 1206%. Sales to Italy increased by 296%, sales to Kazakhstan increased by 103%, sales to Poland increased by 78%, but sales to Belarus increased by 60%. During June 2017, significant shipments also were made to Uzbekistan and The Netherlands. The biggest sales reduction took place in Ukraine, where sales shrunk by 38%. Major sales markets of Olainfarm group in June 2017 were Russia, Latvia, Ukraine and Belarus.

June 2017, consolidated sales

Sales, thsnd. EUR

Changes to June, 2016

Share in total sales

Russia

2 688

-8%

27%

Latvia

2 207

2%

22%

Ukraine

1 071

-38%

11%

Belarus

1 027

60%

10%

Kazakhstan

622

103%

6%

Uzbekistan

407

NA

4%

Poland

317

78%

3%

Turkmenistan

215

1206%

2%

The Netherlands

196

NA

2%

Italy

153

296%

2%

Other

1 213

-10%

12%

Total

10 116

8%

100%

Sales of pharmacy chain of Latvijas aptieka in June 2017 reached 1.79 million euros, which represents an increase by 21% compared to sales in June 2016. During the month of June 67 pharmacies were operating. Sales of Silvanols in June shrunk by a third to 0.29 million euros. During June 2016, Silvanols sold its products to five European countries and with the help of JSC Olainfarm also to Kazakhstan, Belarus and Armenia. Sales of Tonus Elast in June 2017 reached 0.8 million euros, which represents a reduction by 6% compared to the same period of 2016, products of this company were sold to 21 countries in four continents.

In six months of 2017, according to preliminary numbers, consolidated sales of JSC Olainfarm reached 59.16 million euros, which represents an increase by 11% compared to six months of 2016. The biggest sales increase was achieved in The Netherlands, where sales grew by 600%. Sales to Italy increased by 56%, but sales to Kazakhstan increased by 55%. The biggest sales reduction during this period took place in Ukraine, where sales volumes contracted by 40%. Major sales markets of Olainfarm group during these six months were Russia, Latvia, Belarus and Ukraine.

6 months of 2017, consolidated sales

Sales, thsnd. EUR

Changes to six months of 2016

Share in total sales

Russia

18 440

15%

31%

Latvia

14 387

13%

24%

Belarus

5 599

19%

9%

Ukraine

5 414

-40%

9%

The Netherlands

3 527

600%

6%

Kazakhstan

1 610

55%

3%

Italy

978

56%

2%

Uzbekistan

920

-21%

2%

Poland

877

24%

1%

Lithuania

838

21%

1%

Other

6 573

4%

11%

Total

59 163

11%

100%

Sales of pharmacy chain of Latvijas aptieka in six months of 2017 reached 10.3 million euros, which represents an increase by 10% compared to six months of 2016. Sales of Silvanols in six months of 2017 reached 2.74 million euros, which represents an increase by 15% compared to six months of 2016. Silvanols made its sales to nine European countries during this period, and with the help of JSC Olainfarm, also to Lithuania, Russia, Azerbaijan, Belarus and Armenia. Sales of Tonus Elast in six months reached 3.9 million euros, and products of this company were sold to 35 countries in four continents.

According to preliminary unconsolidated numbers, sales of JSC Olainfarm in June 2017 reached 8.22 million euros, which represents an increase by 11%, compared to the same period of 2016. The biggest sales increase was achieved in Turkmenistan, where sales increased by 1206%. Sales to Italy grew by 296%, sales to Kazakhstan increased by 125%, sales to Poland grew by 80%, but sales to Belarus increased by 60%. During June 2016, significant shipments were also made to Uzbekistan and The Netherlands. The biggest reduction of sales during this period took place in Ukraine, where sales shrunk by 38%. The biggest sales markets during this period were Russia, Latvia, Ukraine and Belarus. In total, during June 2017, products of JSC Olainfarm were sold to 28 countries in three continents.

June 2017, unconsolidated sales

Sales, thsnd. EUR

Changes to June, 2016

Share in total sales

Russia

2 336

-15%

28%

Latvia

1 112

9%

14%

Ukraine

1 071

-38%

13%

Belarus

1 013

60%

12%

Kazakhstan

503

125%

6%

Uzbekistan

407

NA

5%

Poland

253

80%

3%

Turkmenistan

215

1206%

3%

The Netherlands

196

NA

2%

Italy

153

296%

2%

Other

961

11%

12%

Total

8 220

11%

100%

According to preliminary unconsolidated results, sales of JSC Olainfarm in six months of 2017 reached 48 million euros, which represents an increase by 4% compared to the same period of 2016. The biggest sales increase during this six months period was achieved in The Netherlands, where sales increased by 600%. Sales to Germany grew by 202%, but sales to Italy by 51%. Biggest sales reduction in six months period took place in Ukraine, where sales shrunk by 40%. Biggest sales markets of JSC Olainfarm during this period were Russia, Latvia, Belarus Ukraine and The Netherlands. In total, during the first six months of 2017, JSC Olainfarm sold its products to 41 countries in five continents.

6 months of 2017, unconsolidated sales

Sales, thsnd. EUR

Changes to 6 months of 2016

Share in total sales

Russia

16 771

6%

35%

Latvia

7 136

5%

15%

Belarus

5 534

18%

12%

Ukraine

5 322

-40%

11%

The Netherlands

3 527

600%

7%

Kazakhstan

1 202

25%

3%

Italy

945

51%

2%

Uzbekistan

920

-21%

2%

Turkmenistan

805

-15%

2%

Germany

783

202%

2%

Other

5 055

-8%

11%

Total

48 000

4%

100%

General meeting of shareholders of JSC Olainfarm held on June 1, 2017 approved operating plan of the company, providing that unconsolidated sales of the company in 2017 will reach 96 million euros, while consolidated sales of the company will reach 127 million euros. According to these preliminary sales numbers, in six months of 2017 the company has met 50% of annual target for unconsolidated sales and 46% of annual target for consolidated sales.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.